Range Resources Co. (NYSE:RRC) Given Average Rating of “Hold” by Brokerages

Range Resources Co. (NYSE:RRC) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.32.

A number of analysts recently issued reports on the company. Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Friday. Bank of America assumed coverage on Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Finally, Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd.

Insider Activity at Range Resources

In related news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in Range Resources in the 3rd quarter worth $25,000. Blue Trust Inc. raised its stake in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Range Resources during the third quarter worth about $49,000. Versant Capital Management Inc boosted its position in Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after buying an additional 463 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Range Resources in the 2nd quarter worth approximately $67,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 0.4 %

Shares of NYSE RRC opened at $35.91 on Wednesday. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 18.14 and a beta of 1.81. The business’s 50 day moving average price is $34.13 and its 200-day moving average price is $32.23.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. On average, sell-side analysts expect that Range Resources will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.89%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.